Thanks Rocket! Nice post Mike...I remember the Oilexco fiasco. I never bought any, bought I followed its huge run up and then saw it come crashing down. I agree that with the way the economy is now and people still on edge, going with banks might be a bit more risky. Oilexco had some great properties and huge potential, SP hit a high of something like $25 did it not...and even with billions in the groud proven, the banks told them to pay up and it was over. This way, at least private investors know the potential and most likely the shares will be going to investors that already own QEC shares and now what the company has to offer. The thing is, if this extra money can get us to hit an SP of $10 (as in with paying our bills and carrying us along to the start production and then some), then we can do another one higher and higher up. TLM has 1+ billions shares issued for example, so diluting is a part of the game.

A PP done in one day is absolutely solid in terms of showing the interest in the stock...but more importantly, why would the company do this PP when a month back they said they were covered. Remember when Mr Binnion was on BNN after the Exxon/XTO deal...he said they had enough cash for the rest of the year...but that was before the horizontal results. I have to believe that TLM might have told them something about how they feel and what it means to drilling...or why bother right? If TLM drills another 4 wells, that's $50M in total...we'd cover a portion of that and still have enough. BUT, wanting to raise $100+M more has to mean that we are preparing for something bigger imo.

Rocco:)